The Founder of Salon Is Passing the Mouse

[Kire]

The Founder of Salon Is Passing the Mouse
By DAVID CARR

Published: February 10, 2005

David Talbot, a pioneer of online journalism who founded Salon magazine in 1995, will announce today that he is stepping down as the magazine's editor in chief, chief executive and relentless cheerleader. He will be replaced as editor, he said, by Joan Walsh, his longtime deputy.

Salon will also announce its first profitable quarter in its history, Mr. Talbot added, a profit of $400,000 on revenues of $2.2 million. The company also said that Elizabeth Hambrecht, Salon's president, would become its chief executive.

Salon has its headquarters in San Francisco, so the fact that it has had a long, strange trip makes sense. Four years after it began publishing, the Web site announced an era-appropriate initial public offering in June 1999, and saw its stock soar to a high of $15.13 in July of that year. Salon lived up to some of the journalistic hype, but it has had a tortured business history that includes several cash infusions from investors more interested in Salon's liberal political agenda than in getting a return on their money; on Wednesday, its stock was trading at 14 cents a share. But $50 million later, it is also beginning to show at least some signs of business life, with revenues from a combination of subscribers - 88,000 people who pay an average of $30 a year, the company says - and a share of the growing Internet advertising market. The future of one of the Web's premier brands that was perpetually in danger of ending up in the recycle bin seems assured.

"I think the timing is right," said Mr. Talbot, who will continue as chairman of the company while he works on a book about Robert F. Kennedy. "If the business was shaky, I would feel uncomfortable, but things are now stable and I think I am handing my baby off to two women I have complete trust in."

More: http://www.nytimes.com/2005/02/10/books/10salo.html

[President Jesus]

1. Talbot's political donations

http://www.newsmeat.com/media_political_donations/David_Talbot.php

[Spiffarino]

2. Time to sign up for Salon

I've not done it yet, I'm sorry to say. It's time to put my money where my mouth is and become a subscriber.

:kick:

[NVMojo]

3. Me, too, cuz I am worried about the future of journalism in America ...